Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Blake Bath sold 18,411 shares of Cogent Communications stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $54.93, for a total transaction of $1,011,316.23. Following the sale, the director now owns 34,175 shares in the company, valued at $1,877,232.75. The sale was disclosed in a document filed with the SEC, which is available through this link.

Shares of NASDAQ CCOI opened at $55.03 on Friday. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of -6.22. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 144.82, a price-to-earnings-growth ratio of 8.51 and a beta of 0.59. Cogent Communications Holdings Inc has a 12-month low of $35.75 and a 12-month high of $57.65.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Cogent Communications had a net margin of 2.13% and a negative return on equity of 22.38%. The firm had revenue of $129.30 million during the quarter, compared to analyst estimates of $131.13 million. During the same period in the prior year, the firm earned $0.10 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that Cogent Communications Holdings Inc will post 0.66 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of CCOI. SG Americas Securities LLC acquired a new position in Cogent Communications during the first quarter worth approximately $152,000. Quantbot Technologies LP acquired a new stake in shares of Cogent Communications in the first quarter worth $216,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Cogent Communications in the first quarter worth $232,000. Sei Investments Co. increased its position in shares of Cogent Communications by 29.7% in the first quarter. Sei Investments Co. now owns 5,344 shares of the technology company’s stock worth $232,000 after acquiring an additional 1,223 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of Cogent Communications in the second quarter worth $266,000. 90.40% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Cogent Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 8th. BidaskClub downgraded shares of Cogent Communications from a “buy” rating to a “hold” rating in a report on Saturday, September 22nd. Oppenheimer lifted their target price on shares of Cogent Communications from $51.00 to $57.00 and gave the company an “outperform” rating in a report on Monday, June 11th. Finally, Guggenheim reaffirmed a “hold” rating and issued a $47.00 target price on shares of Cogent Communications in a report on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $47.89.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.

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